214,581 Shares in CSX Co. (NASDAQ:CSX) Acquired by FORA Capital LLC

FORA Capital LLC bought a new stake in CSX Co. (NASDAQ:CSX) during the 3rd quarter, HoldingsChannel reports. The fund bought 214,581 shares of the transportation company’s stock, valued at approximately $7,409,000. CSX comprises 0.9% of FORA Capital LLC’s portfolio, making the stock its 26th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in shares of CSX by 581.7% in the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 4,508 shares in the last quarter. Tidal Investments LLC lifted its position in CSX by 3.7% in the first quarter. Tidal Investments LLC now owns 131,410 shares of the transportation company’s stock worth $4,869,000 after purchasing an additional 4,669 shares during the period. Comerica Bank boosted its stake in CSX by 0.6% during the 1st quarter. Comerica Bank now owns 424,950 shares of the transportation company’s stock valued at $15,753,000 after purchasing an additional 2,744 shares in the last quarter. LBP AM SA acquired a new position in shares of CSX during the 1st quarter valued at $1,504,000. Finally, iA Global Asset Management Inc. raised its stake in shares of CSX by 54.8% in the 1st quarter. iA Global Asset Management Inc. now owns 294,642 shares of the transportation company’s stock worth $10,922,000 after buying an additional 104,302 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.2 %

CSX stock traded down $0.08 during mid-day trading on Wednesday, hitting $36.61. The company’s stock had a trading volume of 513,688 shares, compared to its average volume of 11,641,873. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The company has a market cap of $70.60 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm’s 50 day moving average is $34.59 and its 200 day moving average is $33.97.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company earned $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSX. Wells Fargo & Company decreased their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Barclays raised their price objective on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen dropped their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Susquehanna reduced their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital decreased their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.